Events of Default by Tenant. The following events shall be deemed to be events of default by Tenant under this Lease: (a) Tenant shall fail to pay when due any sum of money due Landlord hereunder or any other payment or reimbursement due Landlord by the terms of this Lease, and such failure shall continue for a period of ten (10) days from the date when such payment was due. (b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty (30) days after written notice thereof to Tenant or, in the case of failures that cannot be cured within twenty (20thirty (30) days, commence to cure such failure within twenty (20thirty (c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord. (d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses. (e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy. (f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien. (g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors. (h) Involuntary proceedings under any such bankruptcy laws or for the dissolution of Tenant are instituted against Tenant, or a receiver or trustee is appointed for all or substantially all of Tenant's property, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointment. (i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.
Appears in 1 contract
Samples: Lease Agreement
Events of Default by Tenant. The following events shall be deemed to be events of default by If Tenant under this Lease:
(a) Tenant shall fail fails to pay when due any sum of money due Landlord hereunder Annual Rent or any other payment obligation hereunder when due (provided, however, that payment of by Tenant of the monthly installment of Annual Rent and other payment obligations due therewith not more than five (5) days after the due date shall not 35 be considered a default hereunder provided that such late payment does not occur more than once in any twelve (12) month period); or reimbursement due Landlord by the terms if Tenant fails to execute or deliver any estoppel certificate or other document described in any section of this LeaseLease within the time period prescribed therein, and such failure shall continue continues for a period five days after receiving notice of ten (10) days from the date when such payment was due.
(b) default; or if any default by Tenant shall fail with respect to comply with any term, provision or covenant of this Lease, other non-monetary obligation hereunder continues for more than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty thirty (30) days after written notice thereof and such additional time, if any, as is reasonably necessary to Tenant or, in cure the case default if the default is of failures such a nature that it cannot reasonably be cured within twenty (20thirty in thirty (30) days, commence days and Tenant diligently and continuously prosecutes such cure to cure such failure within twenty (20thirty
(c) completion; or if Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of abandons the Premises for ninety (90) consecutive days; or if Tenant becomes insolvent, fails to pay its debts as they fall due, files a petition under any chapter of the Permitted UsesU.S. Bankruptcy Code, 11 U.S.C. 101 et seq.
, as it may be amended (e) This Lease or the Premises or any part similar petition under any insolvency law of any jurisdiction), or if such petition is filed against Tenant and not dismissed within sixty (60) days of such filing; or if Tenant proposes any dissolution, liquidation, composition, financial reorganization or recapitalization with creditors, makes an assignment or trust mortgage for benefit of creditors, or if a receiver, trustee, custodian or similar agent is appointed or takes possession with respect to Tenant; or if the Premises are leasehold hereby created is taken upon on execution or by other process of law directed in any action against Tenant, or are taken upon or subjected ; then and “Event of Default” shall be deemed to any attachment have occurred by any creditor of Tenant or claimant against Tenant, and in any such attachment is case, Landlord and the agents and servants of Landlord may, in addition to and not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity in derogation of any lien remedies for any preceding breach of covenant, immediately or claimed lien at any time thereafter and give sufficient security to Landlord to insure payment thereof without further notice, at Landlord’s election, do any one or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law more of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(h) Involuntary proceedings under any such bankruptcy laws or for the dissolution of Tenant are instituted against Tenant, or a receiver or trustee is appointed for all or substantially all of Tenant's property, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointment.
following: (i) give Tenant written notice stating that the Lease is terminated, effective upon the giving of such notice or upon a date stated in such notice, as Landlord may elect, in which event the Lease shall be irrevocably extinguished and terminated as stated in such notice without any further action, or (ii) with or without process of law, in a lawful manner enter and repossess the Premises as of Landlord’s former estate, and expel Tenant and those claiming through or under Tenant, and remove its and their effects, without being guilty of trespass, in which event the Lease shall be irrevocably extinguished and terminated at the time of such entry, or (iii) pursue any other rights or remedies permitted by law. Any such termination of the Lease shall be without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and in the event of such termination Tenant shall fail remain liable under this Lease as hereinafter provided. Tenant hereby waives all statutory rights (including, without limitation, rights of redemption, if any) to use the Premises for extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant’s effects and those of any person claiming through or under Tenant at the Permitted Uses expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or shall use private sale and apply the Premises for any other usesnet proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 1 contract
Samples: Lease Agreement (AMICAS, Inc.)
Events of Default by Tenant. The occurrence of any of the following events shall be deemed to be events constitute an "Event of default Default" and breach of this Lease by Tenant under this LeaseTenant:
(aA) The failure or refusal by Tenant shall fail to pay when due any installment of the Base Rent hereby reserved or other sum of money due Landlord payable hereunder or under any other payment or reimbursement agreement between Landlord and Tenant when due Landlord by the terms of this Lease, and such failure or refusal shall continue for a period five (5) days after written notice from Landlord.
(B) The abandonment of the Premises by Tenant or the vacation of the Premises by Tenant for thirty (30) consecutive days (without the payment of Rent).
(C) The failure by Tenant to observe or perform any other provision of this Lease to be observed or performed by Tenant, other than those described in Sections 16.01(A) and 16.01(B) above, if such failure continues for ten (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty (30) days after written notice thereof by Landlord to Tenant orTenant; provided, in however, that if the case nature of failures the default is such that it cannot be cured within twenty (20thirty (30) days, commence to cure such failure within twenty (20thirty
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after day period, no default shall exist if Tenant has commences the curing of the default within the ten (10) day period and thereafter diligently prosecutes the same to completion. The ten (10) day notice from described herein shall be in lieu of, and not in addition to, any source notice required under any law now or hereafter in effect requiring that notice of such liendefault be given prior to the commencement of an unlawful detainer or other legal proceeding.
(gD) The making by Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an any general assignment for the benefit of creditors.
(h) Involuntary proceedings , the filing by or against Tenant of a petition under any such federal or state bankruptcy or insolvency laws or for (unless, in the dissolution case of Tenant are instituted a petition filed against Tenant, the same is dismissed within thirty (30) days after filing); the appointment of a trustee or a receiver or trustee is appointed for all or to take possession of substantially all of Tenant's propertyassets at the Premises or Tenant's interest in this Lease or the Premises, and such proceeding when possession is not dismissed restored to Tenant within thirty (30) days; or the attachment, execution or other seizure of substantially all of Tenant's assets located at the Premises or Tenant's interest in this Lease or the Premises, if such receivership or trusteeship seizure is not vacated discharged within ninety thirty (9030) days after such institution or appointmentdays.
(i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.
Appears in 1 contract
Events of Default by Tenant. The following events shall be deemed to be constitute events of default by Tenant under this LeaseTenant:
(a) If Tenant shall fail to pay when make any payment due any sum of money due Landlord hereunder or any other payment or reimbursement due Landlord by the terms of under this LeaseLease Agreement, and such failure shall continue for a period of ten (10) days from the date when such payment was due.
after written notice by Landlord; (b) if a default exists in the performance of any of the other covenants or conditions which Tenant shall fail is required to comply with any term, provision or covenant of this Lease, other than the failure observe and to pay a sum of money due Landlordperform, and such default shall not cure such failure within twenty (20thirty continue for thirty (30) days after written notice thereof to by Landlord or such longer period as reasonably required if Tenant or, in commences and diligently pursues the case cure of failures that cannot be cured default within twenty (20thirty said thirty (30) days, commence to cure such failure within twenty (20thirty
day period; (c) if the interest of Tenant under this Lease Agreement is levied upon, or is under execution or other legal process, or if any petition shall attempt be filed by or against Tenant to assigndeclare Tenant as bankrupt or to delay, transferreduce, conveyor modify Tenant's debts or obligations, sublet, encumber which petition or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
case is not dismissed within sixty days thereafter; (d) if any petition shall be filed or other action taken to reorganize or modify Tenant's capital structure if Tenant shall abandon any substantial portion of the Premises be a corporation or cease to use a substantial portion of the Premises for the Permitted Uses.
other entity; (e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenantif Tenant is declared insolvent, or are taken upon or subjected to if any attachment by any creditor assignment of Tenant or claimant against Tenant, and such attachment 's property is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment made for the benefit of creditors.
(h) Involuntary proceedings under any such bankruptcy laws creditors or for the dissolution of Tenant are instituted against Tenant, or if a receiver or trustee is appointed for Tenant or its property; (f) if Tenant vacates without payment of rent or abandons the Leased Premises during the term of this Lease Agreement or any extensions thereof; or (g) if Tenant makes any transfer of any interest in the Leased Premises not in accordance with the requirements of this Lease Agreement, then Landlord may treat the occurrence of any one or more of the foregoing events as a breach of this Lease Agreement and thereupon, at Landlord's option, Landlord shall have one or more of the following described remedies in addition to all other rights and remedies provided at law or substantially in equity:
a. . Landlord may terminate this Lease Agreement and forthwith, in accordance with applicable law, repossess the Leased Premises and remove all of Tenant's propertypersons or property therefrom, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointment.
be entitled to recover as damages a sum of money equal to the total of (i) Tenant shall fail the cost of recovering the Leased Premises (ii) the unpaid rent owed thereon from due date plus interest thereon at the rate of 18% per annum or the maximum rate permitted by applicable law, whichever is lower, (iii) the difference between the present value of the balance of the rent for the remainder of the term, discounted to use the present at 8% per annum, minus the aggregate fair market rental value of the Leased Premises for the Permitted Uses or shall use remainder of the Premises for Lease Term, and (iv) any other uses.sum of money and damages owed by Tenant to Landlord;
Appears in 1 contract
Events of Default by Tenant. The occurrence of any of the following events shall be deemed to be events constitute a material default and breach of default this Lease by Tenant under this LeaseTenant:
(aA) The failure by Tenant shall fail to pay when due any sum of money due Landlord hereunder Base Rent or make any other payment within five (5) business days after notice that is required to be made by Tenant hereunder as and when due. Notice to be given no more than twice during any given calendar year.
(B) The abandonment of the Premises by Tenant for fourteen (14) consecutive days (with or reimbursement due Landlord without the payment of Rent).
(C) The making by Tenant of any assignment of this Lease or any sublease of all or part of the terms Premises, except as expressly permitted under Article XIV of this Lease, and such failure shall continue for a period of ten (10) days from the date when such payment was due.
(bD) The failure by Tenant shall fail to comply with observe or perform any term, other provision or covenant of this LeaseLease to be observed or performed by Tenant, other than the failure to pay a sum of money due Landlordthose described in Sections 15.01(A), and shall not cure 15.01(B) or 15.01 (C) above, if such failure within twenty (20thirty continues for thirty (30) days after written notice thereof by Landlord to Tenant orTenant; provided, in however, that if the case nature of failures the default is such that it cannot be cured within twenty (20thirty the thirty (30) daysday period, commence no default shall be deemed to cure such failure within twenty (20thirty
(c) exist if Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in commences the whole or any part curing of the Premises without default promptly within such thirty (30) day period and thereafter diligently prosecutes the same to completion and achieves the same within sixty (60) days after the occurrence of such default. The thirty (30) day notice described herein shall be in lieu of, and not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior approval to the commencement of Landlordan unlawful detainer or other legal proceeding.
(dE) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or The making by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity Guarantor of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an general assignment for the benefit of creditors.
(h) Involuntary proceedings , the filing by or against Tenant or its Guarantor of a petition under any such federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or for its Guarantor the dissolution of Tenant are instituted against Tenant, or a receiver or trustee same is appointed for all or substantially all of Tenant's property, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointment.
(i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.dismissed
Appears in 1 contract
Samples: Industrial Lease (Brightpoint Inc)
Events of Default by Tenant. The occurrence of any of the following events shall be deemed to be events constitute a material default and breach of default this Lease by Tenant under this LeaseTenant:
(aA) The failure by Tenant shall fail to pay when due any sum of money due Landlord hereunder Base Rent or make any other payment required to be made by Tenant hereunder as and when due to cure such failure the first two times such failure occurs in any 12 month period).
(B) The abandonment of the Premises by Tenant or reimbursement due Landlord the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the terms payment of Rent).
(C) The making by Tenant of any assignment of this Lease or any sublease of all or part of the Premises, except as expressly permitted under Article XIV of this Lease, and such failure shall continue for a period of ten (10) days from the date when such payment was due.
(bD) The failure by Tenant shall fail to comply with observe or perform any term, other provision or covenant of this LeaseLease to be observed or performed by Tenant, other than the failure to pay a sum of money due Landlordthose described in Sections 15.01(A), and shall not cure 15.01(B) or 15.01 (C) above, if such failure within twenty (20thirty (30) continues for 30 days after written notice thereof by Landlord to Tenant orTenant; provided, in however, that if the case nature of failures the default is such that it cannot be cured within twenty (20thirty (30) daysthe 30 day period, commence to cure such failure within twenty (20thirty
(c) no default shall exist if Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in commences the whole or any part curing of the Premises without default within the 30 day period and thereafter diligently prosecutes the same to completion. The 30 day notice described herein shall be in lieu of, and not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior approval to the commencement of Landlordan unlawful detainer or other legal proceeding.
(dE) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or The making by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity Guarantor of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an general assignment for the benefit of creditors.
(h) Involuntary proceedings , the filing by or against Tenant or its Guarantor of a petition under any such federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or for its Guarantor the dissolution same is dismissed within 60 days after filing); the appointment of Tenant are instituted against Tenant, a trustee or a receiver or trustee is appointed for all or to take possession of substantially all of Tenant's propertyassets at the Premises or Tenant's interest in this Lease or the Premises, and such proceeding when possession is not dismissed restored to Tenant within 60 days; or the attachment, execution or other seizure of substantially all of Tenant's assets located at the Premises or Tenant's interest in this Lease or the Premises, if such receivership or trusteeship seizure is not vacated discharged within ninety (90) days after such institution or appointment60 days.
(iF) Any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other usesGuarantor in connection with negotiating or entering into this Lease or in connection with any Transfer under Section 14.01.
Appears in 1 contract
Events of Default by Tenant. The occurrence of any of the following events ---------------------------- shall be deemed to be events constitute a material default and breach of default this Lease by Tenant under this LeaseTenant:
(aA) The failure by Tenant shall fail to pay when due any sum of money due Landlord hereunder Base Rent or make any other payment required to be made by Tenant hereunder as and when due (it being agreed that Landlord shall give written notice and five (5) business days to cure the first two (2) times such failure occurs in any twelve (12) month period before such failure shall constitute a material default or reimbursement due Landlord by the terms breach of this Lease, and such failure shall continue )..
(B) The abandonment of the Premises by Tenant or the vacation of the Premises by Tenant for a period fourteen (14) consecutive days (with or without the payment of ten (10) days from the date when such payment was dueRent).
(bC) The making by Tenant shall fail to comply with of any termassignment of this Lease or any sublease of all or part of the Premises, provision or covenant except as expressly permitted under Article XIV of this Lease.
(D) The failure by Tenant to observe or perform any other provision of this Lease to be observed or performed by Tenant, other than the failure to pay a sum of money due Landlordthose described in Sections 15.01(A), and shall not cure 15.01(B) or 15.01 (C) above, if such failure within twenty (20thirty continues for thirty (30) days after written notice thereof by Landlord to Tenant orTenant; provided, in however, that if the case nature of failures the default is such that it cannot be cured within twenty (20thirty the thirty (30) daysday period, commence to cure such failure within twenty (20thirty
(c) no default shall exist if Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in commences the whole or any part curing of the Premises without default within the thirty (30) day period and thereafter diligently prosecutes the same to completion. The thirty (30) day notice described herein shall be in lieu of, and not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior approval to the commencement of Landlordan unlawful detainer or other legal proceeding.
(dE) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or The making by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity Guarantor of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an general assignment for the benefit of creditors.
(h) Involuntary proceedings , the filing by or against Tenant or its Guarantor of a petition under any such federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or for its Guarantor the dissolution same is dismissed within thirty (30) days after filing); the appointment of Tenant are instituted against Tenant, a trustee or a receiver or trustee is appointed for all or to take possession of substantially all of Tenant's propertyassets at the Premises or Tenant's interest in this Lease or the Premises, and such proceeding when possession is not dismissed restored to Tenant within thirty (30) days; or the attachment, execution or other seizure of substantially all of Tenant's assets located at the Premises or Tenant's interest in this Lease or the Premises, if such receivership or trusteeship seizure is not vacated discharged within ninety thirty (9030) days after such institution or appointmentdays.
(iF) Any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other usesGuarantor in connection with negotiating or entering into this Lease or in connection with any Transfer under Section 14.01.
Appears in 1 contract
Samples: Office Lease (Igate Capital Corp)
Events of Default by Tenant. The occurrence of any one or more of the following events shall be deemed to be events of constitutes a default (“Default”) by Tenant under this Lease:
(a) Failure by Tenant shall fail to pay any installment of rent when the same is due any sum of money due Landlord hereunder or any other payment or reimbursement due Landlord and the failure continues for five (5) days;
b) Failure by the terms of this LeaseTenant to pay, and such failure shall continue for a period of within ten (10) days after written notice from the date when such payment was dueLandlord, any other sums due and payable from Tenant to Landlord under this lease.
(bc) Failure by Tenant shall fail to comply with cure forthwith, promptly after receipt of notice from Landlord, any term, provision hazardous condition which Tenant has created in violation of law or covenant of this Lease;
d) Failure by Tenant to observe or perform any other covenant, other than the failure to pay a sum term or condition of money due Landlord, and shall not cure this Lease if such failure within twenty (20thirty continues for thirty (30) days after written notice thereof to Tenant orby Landlord, in unless the case nonobservance of failures nonperformance is of a nature that it cannot be cured within twenty (20thirty (30) days, commence to cure such failure within twenty (20thirtycorrected in thirty days wand Tenant has commenced observance or performance and is pursuing it with diligence;
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease The levy upon under execution or the Premises attachment by legal process or any part the leasehold interest of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon the filing or subjected to any attachment by any creditor creation of a lien in respect of such leasehold interest which Tenant or claimant against Tenant, and such attachment is does not discharged discharge within fifteen (15) days after its levy.thirty days;
(f) Failure by Tenant shall fail to contest diligently observe or perform any of the validity of any lien or claimed lien covenants in respect to assignment and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.subletting;
(g) Tenant shall file a petition vacates or abandons the Leased Premises;
h) Tenant becomes insolvent or bankrupt or admits in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolvedwriting his inability to pay his debts as they mature, or makes an assignment for the benefit or creditors, or applies for or consents to the appointment of creditors.a trustee or receiver for Tenant or the major part of his property;
(hi) Involuntary proceedings under any such bankruptcy laws A trustee or receiver is appointed for Tenant or for the dissolution major part of Tenant its property and is not discharged within thirty days after such appointment;
j) Any proceedings for relief under any bankruptcy law, or similar law for relief of debtors, are instituted by or against Tenant, and, if instituted against Tenant, are allowed against him or a receiver are consented to by him, or trustee is appointed for all or substantially all of Tenant's property, and such proceeding is are not dismissed or such receivership or trusteeship is not vacated within ninety (90) sixty days after such institution or appointmentinstitution.
(i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.
Appears in 1 contract
Samples: Lease Agreement (Endocyte Inc)
Events of Default by Tenant. The occurrence of any of the following events shall be deemed to be events constitute a material default and breach of default this Lease by Tenant under this LeaseTenant:
(aA) The failure by Tenant shall fail to pay when due any sum of money due Landlord hereunder Base Rent or make any other payment or reimbursement due Landlord required to be made by the terms of this Lease, Tenant hereunder as and such failure shall continue for a period of ten (10) days from the date when such payment was due.
(bB) The abandonment of the Premises by Tenant shall fail to comply or the vacation of the Premises by Tenant for fourteen (14) consecutive days (with or without the payment of Rent).
(C) The making by Tenant of any termassignment of this Lease or any sublease of all or part of the Premises, provision or covenant except as expressly permitted under Article XIV of this Lease.
(D) The failure by Tenant to observe or perform any other provisions of this Lease to be observed or performed by Tenant, other than the failure to pay a sum of money due Landlordthose described in Sections 15.01(A), and shall not cure 15.01(B) or 15.01(C) above, if such failure within twenty (20thirty continues for thirty (30) days after written notice thereof by Landlord to Tenant orTenant; provided, in however, that if the case nature of failures the default is such that it cannot be cured within twenty (20thirty the thirty (30) daysday period, commence no default shall be deemed to cure exist if Tenant commences the curing of the default promptly within such failure thirty (30) day period and thereafter diligently prosecutes the same to completion and achieves the same within twenty sixty (20thirty
60) days after the occurrence of such default. The thirty (c30) Tenant day notice described herein shall attempt to assignbe in lieu of, transferand not in addition to, convey, sublet, encumber or dispose any notice required under Section 1161 of any the California Code of its right, title or interest in the whole Civil Procedure or any part other law now or hereafter in effect requiring that notice of default be given prior to the Premises without the prior approval commencement of Landlordan unlawful detainer or other legal proceedings.
(dE) The making by Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an general assignment for the benefit of creditors.
(h) Involuntary proceedings , the filing by or against Tenant or any one or more of the Guarantors, if any, of a petition under any such federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or for any one or more of the dissolution Guarantors, if any, the same is dismissed within thirty (30) days after filing); the appointment of Tenant are instituted against Tenant, a trustee or a receiver or trustee is appointed for all or to take possession of substantially all of Tenant's propertyassets at the Premises or Tenant's interest in this Lease or the Premises, and such proceeding when possession is not dismissed restored to Tenant within thirty (30) days; the attachment, execution or other seizure of substantially all of Tenant's assets located at the Premises or Tenant's interest in this Lease or the Premises, if such receivership or trusteeship seizure is not vacated discharged within ninety thirty (9030) days after such institution days; or appointmentthe death or the dissolution of Tenant or any one or more of the Guarantors, if any.
(iF) Any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant shall fail to use the Premises for the Permitted Uses in connection with negotiating or shall use the Premises for entering into this Lease or in connection with any other usesTransfer under Section 14.01.
Appears in 1 contract
Samples: Sublease Agreement (Advanced Aerodynamics & Structures Inc/)
Events of Default by Tenant. The Each of the following events (“Event of Default”) shall be deemed to be events a breach of default this Lease if the event occurs and continues beyond the applicable grace period.
A. The failure by Tenant under this Lease:
(a) Tenant shall fail to pay when due Landlord any sum rent or other charges pursuant to any provision of money due Landlord hereunder or any other payment or reimbursement due Landlord by the terms of this Lease, as and when the same shall become due and payable if such failure shall continue is not cured within five (5) business days.
B. The failure by Tenant to perform or observe any of the other agreements, terms, covenants or conditions hereof if such nonperformance or nonobservance continues for a period of ten fourteen (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty (3014) days after written notice thereof by Landlord to Tenant or, in the case of failures that if such performance or observance cannot be cured had within twenty (20thirty (30) days, commence such 14-day period then if Tenant has not in good faith commenced such performance within such 14-day period and does not diligently and in good faith proceed therewith to cure such failure within twenty (20thirtycompletion.
(c) C. The filing by or against Tenant shall attempt in any court pursuant to assign, transfer, convey, sublet, encumber any statute of the United States or dispose of any state of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for a reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(h) Involuntary proceedings under any such bankruptcy laws or for the dissolution appointment of Tenant are instituted against Tenant, or a receiver or trustee is appointed for Fundee of all or substantially all a portion of Tenant's ’s property, and such proceeding is not dismissed or such receivership or trusteeship is not vacated if within ninety (90) days after the commencement of any such institution proceedings against Tenant or appointmentafter such assignment for the benefit of creditors, such petition shall not have been dismissed or such assignment shall not have been revoked.
(i) D. The failure by Tenant shall fail to use pay its debts as they become due or its admission in writing of its inability to pay its debts, or the Premises making by Tenant of a general assignment for the Permitted Uses benefit of creditors. For the purposes of determining whether Tenant is not paying its debts as they become due, a debt shall be deemed overdue upon the earlier of:
(1) The date on which any action or preceding therefor is commenced; or
(2) The date on which a formal notice of default or demand has been sent.
E. The transfer of Xxxxxx’s interest in this Lease to any person, firm, or corporation other than Tenant, whether voluntarily or by operation of law, except in the manner expressly permitted in this Lease or any subsequent amendment thereto.
F. The levy of writ of attachment or execution on Xxxxxx’s interest under this Lease, or other imposition of a lien upon Xxxxxx’s interest under this Lease, which writ or other lien is not removed or bonded against to Landlord’s satisfaction within ninety (90) days after the date of levy or imposition.
G. The vacating or abandoning of the Property by Xxxxxx at any time during the Term hereof. Any written notice given by Landlord with respect to any alleged breach shall use the Premises for be in lieu of, and not in addition to, any other useswritten notice required by any applicable unlawful detainer statute.
Appears in 1 contract
Samples: Lease Agreement
Events of Default by Tenant. The Each of the following events shall be deemed to be events constitute an "Event of default Default" by Tenant under this Lease:
(a) if any Fixed Minimum Rent or Additional Rent is not paid when due and such default continues for a period of five (5) days after written notice from Landlord (provided that no notice shall be required if notice of non-payment has been delivered within the preceding 6 months); or
(b) if the provisions of Section 6.3 (Hazardous Materials) are not fully complied with; or
(c) if the provisions of Section 12.1 (Landlord's Consent Required) are not fully complied with; or
(d) if the obligations of Tenant to maintain insurance coverages under Section 8 are not fully complied with; or
(e) if Tenant shall fail to pay when due any sum of money due Landlord hereunder desert, vacate or abandon the Premises or any other payment or reimbursement due Landlord by substantial portion thereof; or
(f) if Tenant commits any default under the terms of this LeaseLease other than a default described in Section 13.1(a), (b), (c), (d) or (e), and such failure shall continue default continues for a period of ten (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty thirty (30) days after written notice thereof to Tenant or, in the case of failures (except that if such default cannot be completely cured within twenty (20thirty thirty (30) days, commence it shall not be an Event of Default if Tenant gives Landlord written notice of Tenant's plan to effect the cure and starts the cure within the thirty (30) day period, in good faith continually proceeds with due diligence to cure such failure default, and completely cures such default within one hundred twenty (20thirty
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15120) days after its levy.the delivery of the default notice); or
(fi) if Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof generally not pay its debts as they become due or shall fail admit in writing its inability to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United Statespay its debts, or is dissolved, or makes an shall make a general assignment for the benefit of creditors., or (ii) if Tenant shall commence any case, proceeding or other action seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts under any law relating to bankruptcy, insolvency, reorganization or relief of debtors, or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial part of its property, or (iii) if Tenant shall take any corporate, partnership, or limited liability company action to authorize any of the actions set forth in subsections (i) or (ii) above, or (iv) if any case, proceeding or other action against Tenant shall be commenced seeking to have an order for relief entered against it as debtor, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts under any law relating to bankruptcy, insolvency, reorganization or relief of debtors, or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial part of its property, and such case, proceeding or other action (A) results in the entry of an order for relief against it that is not fully stayed within seven (7) business days after the entry thereof, or (B) remains undismissed for a period of forty-five (45) days, or (v) if any execution, attachment or mechanics' lien against Tenant shall be unsatisfied or unsecured by adequate corporate surety bond or cash security for more than five (5) days; or
(h) Involuntary proceedings if this Lease is guaranteed, any event of default shall occur under any such bankruptcy laws or for the dissolution of Tenant are instituted against Tenant, or a receiver or trustee is appointed for all or substantially all of Tenant's property, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointment.guaranty; or
(i) if Tenant or any subsidiary or affiliate of Tenant shall fail to use the Premises for the Permitted Uses or lease other premises from Landlord, any event of default shall use the Premises for occur under any such other useslease.
Appears in 1 contract
Samples: Lease (Cascade Wind Corp.)
Events of Default by Tenant. The Any of the following events occurrences or acts shall be deemed to be events constitute an event of default by Tenant under this Lease:
(1) If Tenant, at any time during the Term, shall (a) Tenant shall fail to pay when due make any payment of the Rent or other sum herein required to be paid by Tenant within five (5) days after the same is due, (b) fail to cure, immediately after notice from Landlord, any hazardous condition which Tenant has created or suffered in violation of money due Landlord hereunder law or any other payment or reimbursement due Landlord by the terms of this Lease, and such failure shall continue for a period of ten (10c) days from the date when such payment was due.
(b) Tenant shall fail to comply with observe or perform or be in breach of any termof the covenants in respect of assignment, subletting and encumbrance set forth hereinabove, or (d) fail to observe or perform any other provision or covenant of this Lease, other than the failure to pay a sum of money due Landlord, hereof and shall not cure such failure same within twenty (20thirty thirty (30) days after Landlord shall have delivered to Tenant written notice thereof of such failure, provided that if the failure is of such a nature as to Tenant or, in the case of failures that cannot be impossible to be cured within twenty (20thirty (30) daysby the end of such thirty-day cure period, commence the thirty-day period shall be extended for the number of days reasonably required to cure such said failure within twenty (20thirty
(c) provided that Tenant shall attempt has commenced to assign, transfer, convey, sublet, encumber or dispose of any of cure the default during the aforesaid thirty-day notice period and diligently pursues a cure to its right, title or interest in the whole or any part of the Premises without the prior approval of Landlordcompletion.
(d2) Tenant shall abandon any substantial portion To the full extent permissible under the Bankruptcy Reform Act of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises 1978, as amended, or any part of the Premises are taken upon execution or by other process of law directed against Tenantsuccessor thereto, or are taken upon or subjected to any attachment by any creditor of (a) if Tenant or claimant against Tenantany Guarantor, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant if any, shall file a petition in bankruptcy or insolvency or for reorganization or for an arrangement under the pursuant to any present or future federal or state bankruptcy law of the United Statesor under any similar federal or state law, or is dissolvedshall be adjudicated, bankrupt or makes insolvent or shall make an assignment for the benefit of creditors.
(h) Involuntary proceedings its creditors or shall admit in writing its inability to pay its debts generally as they become due, or if a petition or answer proposing the adjudication of Tenant or any Guarantor as a bankrupt or its reorganization under any such present or future federal or state bankruptcy laws law or for the dissolution of Tenant are instituted against Tenant, any similar federal or a receiver or trustee is appointed for all or substantially all of Tenant's property, state law shall be filed in any court and such proceeding is petition or answer shall not dismissed be discharged or such receivership or trusteeship is not vacated denied within ninety (90) days after such institution or appointment.
(i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.thirty
Appears in 1 contract
Samples: Office Building Lease
Events of Default by Tenant. The occurrence of any of the following events shall be deemed to be events constitute a material default and breach of default this Lease by Tenant under this LeaseTenant:
(aA) The failure by Tenant shall fail to pay when due any sum of money due Landlord hereunder Base Rent or make any other payment or reimbursement due Landlord required to be made by the terms of this Lease, Tenant hereunder as and such failure shall continue for a period of ten (10) days from the date when such payment was due.
(bB) The abandonment of the Premises by Tenant shall fail to comply with or the vacation of the Premises by Tenant for fourteen (14) consecutive days (without the payment of Rent).
(C) The making by Tenant of any termassignment of this Lease or any sublease of all or part of the Premises, provision or covenant except as expressly permitted under Article XIV of this Lease.
(D) The failure by Tenant to observe or perform any other provision of this Lease to be observed or performed by Tenant, other than the failure to pay a sum of money due Landlordthose described in Sections 15.01(A), and shall not cure 15.01(B) or 15.01 (C) above, if such failure within twenty continues for ten (20thirty (3010) days after written notice thereof by Landlord to Tenant orTenant; provided, in however, that if the case nature of failures the default is such that it cannot be cured within twenty (20thirty (30) days, commence to cure such failure within twenty (20thirty
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after day period, no default shall exist if Tenant has commences the curing of the default within the ten (10) day period and thereafter diligently prosecutes the same to completion. The ten (10) day notice from described herein shall be in lieu of, and not in addition to, any source notice required under Section 1161 of such lienthe California Civil Code of Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to the commencement of an unlawful detainer or other legal proceeding.
(gE) The making by Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law its Guarantor of the United States, or is dissolved, or makes an any general assignment for the benefit of creditors.
(h) Involuntary proceedings , the filing by or against Tenant or its Guarantor of a petition under any such federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or for its Guarantor the dissolution same is dismissed within thirty (30) days after filing); the appointment of Tenant are instituted against Tenant, a trustee or a receiver or trustee is appointed for all or to take possession of substantially all of Tenant's propertyassets at the Premises or Tenant's interest in this Lease or the Premises, and such proceeding when possession is not dismissed restored to Tenant within thirty (30) days; or the attachment, execution or other seizure of substantially all of Tenant's assets located at the Premises or Tenant's interest in this Lease or the Premises, if such receivership or trusteeship seizure is not vacated discharged within ninety thirty (9030) days after such institution or appointmentdays.
(iF) Any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other usesGuarantor in connection with negotiating or entering into this Lease or in connection with any Transfer under Section 14.01.
Appears in 1 contract
Samples: Retail Lease (Nara Bancorp Inc)
Events of Default by Tenant. The If at any time subsequent to the date of this Lease any one or more of the following events (each, an "Event of Default") shall be deemed to be events of default by Tenant under this Leaseoccur:
(ai) Tenant shall fail fails to pay when due any sum of money due Landlord hereunder Annual Rent or any other readily ascertainable payment or reimbursement obligation hereunder when due Landlord by the terms of this Lease, and such failure shall continue for a period of ten five (105) business days after notice to Tenant from the date when such payment was due.Landlord; or
(bii) Tenant fails to execute or deliver any estoppel certificate or other document described in Section 10.9 or Section 8.1 hereof within the time period prescribed therein, and such failure continues for five (5) business days after receiving written notice of such default; or
(iii) Tenant shall fail default with respect to comply with any term, provision or covenant of this Lease, other obligation hereunder and such default continues for more than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty (30) 30 days after written notice thereof and such additional time, if any, as is reasonably necessary to Tenant or, in cure the case default if the default is of failures such a nature that it cannot reasonably be cured within twenty (20thirty (30) days, commence 30 days and Tenant diligently and continuously prosecutes such cure to cure such failure within twenty (20thirtycompletion; or
(civ) Tenant shall attempt to assignabandons or vacates the Premises and is not, transferin Landlord's reasonable judgment, convey, sublet, encumber diligently pursuing the assignment or dispose of any of its right, title or interest in the whole or any part sublease of the Premises without the prior approval of Landlord.Premises; or
(dv) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.creditors or shall be adjudicated insolvent, or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future Federal, state or other statute, law or regulation for the relief of debtors (other than the Bankruptcy Code, as hereinafter defined), or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or shall admit in writing its inability to pay its debts generally as they become due; or
(hvi) Involuntary proceedings under any such bankruptcy laws The filing of a voluntary petition by Tenant, or the entry of an order for the dissolution of Tenant are instituted relief against Tenant, under any chapter of the U.S. Bankruptcy Code, 11 U.S.C. 101 et seq., as it may be amended (or any similar petition under any insolvency law of any jurisdiction) (the "Bankruptcy Code"), or if such petition is filed against Tenant and not dismissed within 75 days of such filing; or
(vii) The leasehold hereby created is taken on execution or other process of law in any action against Tenant; Then, and in any such case, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues, at Landlord's election, do any one or more of the following: (A) give Tenant written notice stating that the Lease is terminated, effective upon the giving of such notice or upon a receiver date stated in such notice, as Landlord may elect, in which event the Lease shall be irrevocably extinguished and terminated as stated in such notice without any further action; or trustee is appointed (B) with or without process of law, in a lawful manner enter and repossess the Premises as of Landlord's former estate, and expel Tenant and those claiming through or under Tenant, and remove its and their effects, without being guilty of trespass, in which event the Lease shall be irrevocably extinguished and terminated at the time of such entry; or (C) pursue any other rights or remedies permitted by law. Any such termination of the Lease shall be without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and in the event of such termination Tenant shall remain liable under this Lease as hereinafter provided. Tenant hereby waives all or substantially all statutory rights (including, without limitation, rights of redemption, if any) to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant's propertyeffects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointmentpay over the balance, if any, to Tenant.
(i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.
Appears in 1 contract
Events of Default by Tenant. The occurrence of any of the following events shall constitute an event of default ("Event of Default") of this Lease by Tenant:
19.1.1 The abandonment by Tenant of the Premises for a period of thirty (30) or more days; or
19.1.2 Any failure by Tenant to pay any Rent or any other charge required to be paid under this Lease, or any part thereof, when due and such failure continues for five (5) days following the delivery to Tenant of written notice thereof; or
19.1.3 The hypothecation or assignment of this Lease or subletting of the Premises, or attempts at such actions, in violation of Article 14 hereof; or the recording of a document in violation of Section 29.6, without the necessity of a notice from Landlord; or
19.1.4 Any failure by Tenant to observe or perform any other provision, covenant, or condition of this Lease to be observed or performed by Tenant where such failure continues for ten (10) business days after written notice thereof from Landlord to Tenant; provided that (i) if the nature of such default is such that the same cannot reasonably be cured within a ten (10) business day period, Tenant shall not be deemed to be events of in default by Tenant under this Lease:
(a) Tenant shall fail if it diligently commences such cure within such period and thereafter diligently proceeds to pay when due any sum of money due Landlord hereunder or any other payment or reimbursement due Landlord by the terms of this Lease, rectify and such failure shall continue for a period of ten (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other cure said default and does cure said default no later than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty thirty (30) days after said written notice thereof to Tenant ornotice, and (ii) the cure period specified in the case of failures that canthis Section 19.1.4 shall not be cured applicable to Tenant's obligations under Sections 10.3 and 10.4 and Articles 17 and 18 of this Lease (i.e., Tenants failure to comply Air Cargo Lease A-Mark 2014 - 30 - with any provision, covenant, or condition described in such Sections and/or Articles within twenty (20thirty (30) daysthe time periods specified therein shall constitute a default under this Section 19.1.4); or
19.1.5 To the extent permitted by law, commence to cure such failure within twenty (20thirty
(c) a general assignment by Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part guarantor of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
, or the filing by or against Tenant or any guarantor of any proceeding under an insolvency or bankruptcy law, unless in the case of a proceeding filed against Tenant or any guarantor the same is dismissed within sixty (h60) Involuntary proceedings under any such bankruptcy laws days, or for the dissolution appointment of a trustee or receiver to take possession of all or substantially all of the assets of Tenant are instituted against Tenantor any guarantor, unless possession is restored to Tenant or such guarantor within sixty (60) days, or a receiver any execution or trustee is appointed for other judicially authorized seizure of all or substantially all of Tenant's propertyassets located upon the Premises or of Tenant's interest in this Lease, unless such seizure is discharged within sixty (60) days. The notices provided for in this Section 19.1 shall be in lieu of, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointmentin addition to, any notice required under Nevada law.
(i) Tenant shall fail to 19.1.6 Maintaining, committing, or permitting on the Premises waste or a nuisance; use of the Premises for an unlawful purpose or in violation of the Permitted Uses Use; abandonment or vacation of the Premises; attempting to effectuate a Transfer contrary to the provisions of Article 14; or Tenant's breach of a material or monetary provision of this Lease on any occasion during a twelve (12) month period in which Xxxxxx has received three (3) or more notices of a breach of this Lease. Any notice required by this Lease to be sent by Landlord to Tenant and any applicable period of time following delivery of said notice shall use run concurrently with any statutory notice requirements. The time periods provided in this Section and throughout this Lease for Tenant to cure or to surrender the Premises shall be in lieu of, and not in addition to, any similar time periods prescribed by applicable state law as a condition precedent to the commencement of legal action against Tenant for possession of the Premises or other relief; provided, however, to the extent the foregoing is not permitted by applicable law, any notice under this Section shall run concurrently with, and not in addition to, any similar time periods prescribed by applicable law. Any notice given is in lieu of any written notice required by statute or law and Tenant waives (to the fullest extent permitted by law) the giving of any notice other usesthan that provided for in this Lease.
Appears in 1 contract
Samples: Air Cargo Center Lease (A-Mark Precious Metals, Inc.)
Events of Default by Tenant. The following events It shall be deemed to be events an Event of default by Tenant Default under this Lease:
, if (ai) Tenant shall fail fails to pay when due any sum of money due Landlord hereunder Base Rent or any other payment or reimbursement due Landlord by the terms of this Leaseadditional rent, and such failure shall continue continues for a period more than seven (7) business days after written notice thereof specifying such failure and that such failure may be an Event of ten Default hereunder; (10) days from the date when such payment was due.
(bii) Tenant shall fail fails to comply with any term, provision or covenant of this Lease, perform its other non-monetary obligations hereunder for more than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty thirty (30) days after written notice thereof from Landlord, together with such additional time, if any, as is reasonably required to Tenant or, in cure the case default if the default is of failures such a nature that it cannot reasonably be cured within twenty (20thirty in thirty (30) days, commence to cure such failure within twenty ; or (20thirty
(ciii) if Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of makes any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(h) Involuntary proceedings , or files a petition under any bankruptcy or insolvency law; or (iv) if such bankruptcy laws or for the dissolution of a petition is filed against Tenant are instituted against Tenant, or a receiver or trustee is appointed for all or substantially all of Tenant's property, and such proceeding is not dismissed within sixty (60) days; or such receivership or trusteeship (v) if a receiver becomes entitled to Tenant’s leasehold hereunder and it is not vacated returned to Tenant within ninety (90) days after days; or (vi) such institution leasehold is taken on execution or appointment.
(i) other process of law in any action against Tenant; then, and in any such cases, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice, enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination addressed to Tenant at the Premises and repossess the same as of Landlord’s former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate, but Tenant shall fail remain liable as hereinafter provided. After the occurrence of an Event of Default as aforesaid, Tenant hereby waives all statutory rights of redemption, if any to use the Premises for extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant’s effects and those of any person claiming through or under Tenant at the Permitted Uses expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or shall use private sale and apply the Premises for any other usesnet proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 1 contract
Samples: Lease Agreement (Green Mountain Coffee Roasters Inc)
Events of Default by Tenant. The following events shall be deemed All covenants and agreements to be events of default kept or performed by Tenant under this LeaseLease shall be performed by Tenant at Tenant’s sole cost and expense and without any reduction of Rent. The occurrence of any of the following shall constitute a default of this Lease by Tenant:
(a) 19.1.1 Any failure by Tenant shall fail to pay when due any sum of money due Landlord hereunder Rent or any other payment or reimbursement due Landlord by the terms of charge required to be paid under this Lease, and or any part thereof, when due; or
19.1.2 Any failure by Tenant to observe or perform any other provision, covenant or condition of this Lease to be observed or performed by Tenant where such failure shall continue continues for a period of ten (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty (3020) days after written notice thereof from Landlord to Tenant; provided however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161 or any similar or successor law; and provided further that if the nature of such default is such that the same cannot reasonably be cured within a twenty (20) day period, Tenant shall not be deemed to be in default if it diligently commences such cure within such period and thereafter diligently proceeds to rectify and cure said default as soon as possible;
19.1.3 The abandonment of the Premises by Tenant. Abandonment is herein defined to include, but is not limited to, any absence by Tenant from the Premises for three (3) business days or longer while in default of any provision of this Lease; or
19.1.4 The making of a general assignment by Tenant for the benefit of creditors, the filing of a voluntary petition by Tenant or the filing of an involuntary petition by any of Tenant’s creditors seeking the rehabilitation, liquidation, or reorganization of Tenant under any law relating to bankruptcy, insolvency or other relief of debtors and, in the case of failures that cannot be cured an involuntary action, the failure to remove or discharge the same within twenty sixty (20thirty (30) days, commence to cure such failure within twenty (20thirty
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (1560) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under filing, the bankruptcy law appointment of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(h) Involuntary proceedings under any such bankruptcy laws or for the dissolution of Tenant are instituted against Tenant, or a receiver or trustee is appointed for all or other custodian to take possession of substantially all of Tenant's property’s assets or this leasehold, and such proceeding is not dismissed Tenant’s insolvency or such receivership inability to pay Tenant’s debts or trusteeship is not vacated within ninety (90) days after such institution failure generally to pay Tenant’s debts when due, any court entering a decree or appointmentorder directing the winding up or liquidation of Tenant or of substantially all of Tenant’s assets, Tenant taking any action toward the dissolution or winding up of Tenant’s affairs, the cessation or suspension of Tenant’s use of the Premises, or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets or this leasehold.
(i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.
Appears in 1 contract
Samples: Office Lease (Cafepress Inc.)
Events of Default by Tenant. The occurrence of any of the following events shall be deemed constitute a material default and breach of this Lease by Tenant (each, an “Event of Default”):
a. If Tenant fails to pay the Base Rent or any Additional Rent or make any other payment required to be events of default made by Tenant under this Lease:
(a) Tenant shall fail to pay Lease and the Exhibits hereto as and when due any sum of money due Landlord hereunder or any other payment or reimbursement due Landlord by the terms of this Lease, and such failure shall continue continues for a period of ten (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty (30) days after written notice thereof is received by Tenant; or
b. If Tenant violates or fails to Tenant or, in the case perform or otherwise breaks any covenant or agreement herein contained and does not cure said violation or failure within thirty (30) days after receipt of failures that written notice or if said condition cannot reasonably be cured within twenty (20thirty such time period and Tenant commences the cure within thirty (30) days, commence days after receipt of written notice and diligently works to cure complete the cure; or
c. If Tenant fails to provide estoppel certificates or other certificates as herein provided within thirty (30) days of receipt of written notice of such failure within twenty (20thirtyfailure; or
(c) d. If Tenant shall attempt fails to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in vacate and surrender the whole or any part Premises as required by this Lease upon the expiration of the Premises without the prior approval Term or sooner termination of Landlord.this Lease; or
(d) e. If Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security submits to Landlord any materially false information on any document required to insure payment thereof or shall fail be given by Tenant to satisfy any judgment rendered thereon and have the same released within ten (10) days after Landlord; or
f. If Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(h) Involuntary proceedings under ; or whenever Tenant seeks or consents to or acquiesces in the appointment of any such bankruptcy laws trustee, receiver or for the dissolution liquidator of Tenant are instituted against Tenant, or a receiver or trustee is appointed for of all or any substantial part of its properties; or whenever a permanent or temporary receiver of Tenant for substantially all of Tenant's property, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointment.
(i) the assets of Tenant shall fail to use be appointed; or an order, judgment or decree shall be entered by any court of competent jurisdiction on the Premises for the Permitted Uses or shall use the Premises for any other usesapplication of a creditor.
Appears in 1 contract
Events of Default by Tenant. The following events It shall be deemed to be events an “Event of default by Tenant Default” under this Lease:
, if (ai) Tenant shall fail fails to pay when due any sum of money due Landlord hereunder Fixed Rent or any other payment or reimbursement due Landlord by the terms of this Leaseadditional rent for more than seven (7) days, and after notice thereof specifying such failure shall continue for a period and that such failure may be an Event of ten Default hereunder; (10) days from the date when such payment was due.
(bii) Tenant shall fail fails to comply with any term, provision or covenant of this Lease, perform its other non-monetary obligations hereunder for more than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty thirty (30) days after written notice thereof from Landlord, together with such additional time, if any, as is reasonably required to Tenant or, in cure the case default if the default is of failures such a nature that it cannot reasonably be cured within twenty (20thirty in thirty (30) days, commence to cure such failure within twenty ; or (20thirty
(ciii) if Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of makes any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(h) Involuntary proceedings , or files a petition under any bankruptcy or insolvency law; or (iv) if such bankruptcy laws or for the dissolution of a petition is filed against Tenant are instituted against Tenant, or a receiver or trustee is appointed for all or substantially all of Tenant's property, and such proceeding is not dismissed within one hundred and twenty (120) days; or such receivership or trusteeship (v) if a receiver becomes entitled to Tenant's leasehold hereunder and it is not vacated returned to Tenant within ninety (90) days after days; or (vi) such institution leasehold is taken on execution or appointment.
(i) other process of law in any action against Tenant; then, and in any such cases, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination addressed to Tenant at the Premises and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate, but Tenant shall fail remain liable as hereinafter provided. After the occurrence of an Event of Default as aforesaid, Tenant hereby waives all statutory rights of redemption, if any to use the Premises for extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant's effects and those of any person claiming through or under Tenant at the Permitted Uses expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or shall use private sale and apply the Premises for any other usesnet proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 1 contract
Samples: Lease Agreement (Nexx Systems Inc)
Events of Default by Tenant. (a) The occurrence of any of the following events shall be deemed to be events an event of default by Tenant under this Lease:
(ai) Tenant shall fail to pay when due hereunder any installment of rent or any other sum of money due Landlord hereunder or any other payment or reimbursement due Landlord payable by the terms of this Lease, and such failure shall continue for a period of ten (10) days from the date when such payment was due.Tenant to Landlord; or
(bii) Tenant shall fail to comply with or observe any other term, provision or covenant of this Lease, other than and Tenant has not cured such failure (except for the failure to pay a sum of money due Landlord, and shall not cure such failure rent) within twenty (20thirty (3020) days after written notice thereof to Tenant the occurrence of such failure; or, in the case of failures that cannot be cured within twenty (20thirty (30) days, commence to cure such failure within twenty (20thirty
(ciii) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenantbecome insolvent, or are taken upon or subjected to any attachment by any creditor shall make a transfer in fraud of Tenant or claimant against Tenantcreditors, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes make an assignment for the benefit of creditors.
(h) Involuntary proceedings , or Tenant shall admit in writing its inability to pay its debts as they become due, or Tenant shall file a petition under any such bankruptcy laws section or for chapter of the dissolution Bankruptcy Reform Act of 1978, as amended, or under any similar law or statute of the United States or any State thereof, or Tenant shall be adjudged bankrupt or insolvent in proceedings filed against Tenant thereunder, or a petition or answer proposing the adjudication of Tenant are instituted against Tenantas a bankrupt or its similar law shall be filed in any court and such petition or answer shall not be discharged within sixty (60) days after the filing thereof, or a receiver or trustee is shall be appointed for all or substantially all of the assets of Tenant or of the Building or of any of Tenant's property, and such proceeding is not dismissed property located thereon; or
(iv) The leasehold estate hereunder shall be taken or such receivership attempted to be taken by execution or trusteeship is not vacated within ninety other process of law in any action against Tenant; or
(90v) Tenant shall abandon or vacate any substantial portion of the Building for a period of time in excess of five (5) days after without written permission of Landlord; or
(vi) The liquidation, termination, dissolution, forfeiture of right to do business or death of Tenant or any Guarantor.
(b) If an event of default shall have occurred, Landlord shall have, in addition to such institution other rights or appointment.remedies as are contained within this Lease or at law or in equity, the right at its election, then or any time thereafter while such event of default shall continue, to pursue any one or more of the following remedies:
(i) Terminate this Lease by giving notice thereof to Tenant, in which event Tenant shall fail immediately surrender the Building to use Landlord and if Tenant fails to do so, Landlord may without prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take absolute possession of the Premises Building. Tenant hereby agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such termination, whether through inability to relet the Building on satisfactory terms or otherwise, including loss of rental for the Permitted Uses remainder of the Lease Term and interest thereon at the Past Due Rate from the date of the default.
(ii) Enter upon and take absolute possession of the Building without terminating this Lease. Landlord may (but shall be under no obligation to) relet the Building or any part thereof for the account of Tenant, in the name of Tenant or Landlord or otherwise, without notice to Tenant, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions (which may include concessions or free rent) and for such uses as Landlord in its absolute discretion may determine and Landlord may collect and receive any rents payable by reason of such reletting. Tenant covenants and agrees to pay Landlord on demand all reasonable expenses necessary to relet the Building which shall use include the Premises cost of renovating, repairing and altering the Building for a new tenant or tenants, advertisements and brokerage fees, and Tenant further covenants and agrees to pay Landlord on demand any deficiency that may arise by reason of such reletting together with interest on all sums due thereon at the Past Due Rate from the date of the default. Landlord shall not be responsible or liable for any failure to relet the Building or any part thereof or for any failure to collect any rent due upon any such reletting. No such re-entry or taking of possession of the Building by Landlord shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such termination is given to Tenant pursuant to subparagraph 17(b)(i) above.
(iii) Make such payments and/or take such action and do whatever Tenant is obligated to do under the terms of this Lease. Tenant covenants and agrees to reimburse Landlord on demand for any expenses which Landlord may incur in thus affecting compliance with Tenant's obligations under this Lease together with interest thereon at the Past Due Rate from the date paid by Landlord, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action, whether caused by the negligence of Landlord or otherwise.
(iv) Collect, from time to time, by suit or otherwise, each installment of rent or other usessum as it becomes due hereunder, or to enforce, from time to time, by suit or otherwise, any other term or provision hereof on the part of Tenant required to be kept or performed.
(v) Terminate this Lease by giving Tenant notice thereof, in which event Tenant shall pay to Landlord the sum of (1) all rent accrued hereunder through the date of termination, and (2) an amount equal to (A) the total rent that Tenant would have been required to pay for the remainder of the Lease Term discounted to present value at a rate of seven percent (7%) per annum, minus (B) the then present fair rental value of the Building for such period, similarly discounted at a rate of seven percent (7%) per annum, after deducting all anticipated costs of reletting and Landlord's expenses for keeping the Building in good order.
(c) In order to regain possession of the Building pursuant to this Xxxxxxxxx 00, Xxxxxxxx or its agent may, at the expense and liability of the Tenant, alter or change any or all locks or other security devices controlling access to the Building without posting or giving notice of any kind to Tenant. Landlord shall have no obligation to provide Tenant a key or grant Tenant access to the Building so long as Tenant is in default under this Lease. Landlord may, without notice, remove and either dispose of or store, at Tenant's expense, any property belonging to Tenant that remains in the Building after Landlord has regained possession thereof.
(d) No repossession or re-entering on the Building or any part thereof by Landlord and no reletting of the Building or any part thereof by Landlord shall terminate this Lease, unless a notice of such intention be given to Tenant.
(e) No right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy, and each and every right and remedy shall be cumulative and in addition to any other right or remedy given hereunder or now or hereafter existing at law or in equity or by statute. In addition to other remedies provided in this Lease, Landlord shall be entitled, to the extent permitted by applicable law, to injunctive relief in case of the violation, or attempted or threatened violation, of any of the covenants, agreements, conditions or provisions of this Lease, or to a decree compelling performance of any of the other covenants, agreements, conditions or provisions of this Lease, or to any other remedy allowed to Landlord at law or in equity.
Appears in 1 contract
Events of Default by Tenant. The occurrence of any of the following events shall be deemed to be events constitute a material default and breach of default this Lease by Tenant under this LeaseTenant:
(aA) The failure by Tenant shall fail to pay when due any sum of money due Landlord hereunder Base Rent or make any other payment or reimbursement due Landlord required to be made by the terms of this Lease, Tenant hereunder as and such failure shall continue for a period of ten (10) days from the date when such payment was due.
(bB) The abandonment of the Premises by Tenant shall fail to comply with or the vacation of the Premises by Tenant for fourteen (14) consecutive days (without the payment of Rent).
(C) The making by Tenant of any termassignment of this Lease or any sublease of all or part of the Premises, provision or covenant except as expressly permitted under Article XIV of this Lease.
(D) The failure by Tenant to observe or perform any other provision of this Lease to be observed or performed by Tenant, other than the failure to pay a sum of money due Landlordthose described in Sections 15.01(A), and shall not cure 15.01(B) or 15.01 (C) above, if such failure within twenty continues for ten (20thirty (3010) days after written notice thereof by Landlord to Tenant orTenant; provided, in however, that if the case nature of failures the default is such that it cannot be cured within twenty (20thirty (30) days, commence to cure such failure within twenty (20thirty
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after day period, no default shall exist if Tenant has commences the curing of the default within the ten (10) day period and thereafter diligently prosecutes the same to completion. The ten (10) day notice from described herein shall be in lieu of, and not in addition to, any source notice required under Section 1161 of such lienthe California Civil Code of Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to the commencement of an unlawful detainer or other legal proceeding.
(gE) The making by Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law its Guarantor of the United States, or is dissolved, or makes an any general assignment for the benefit of creditors.
(h) Involuntary proceedings , the filing by or against Tenant or its Guarantor of a petition under any such federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant or for its Guarantor the dissolution same is dismissed within thirty (30) days after filing); the appointment of Tenant are instituted against Tenant, a trustee or a receiver or trustee is appointed for all or to take possession of substantially all of Tenant's propertyassets at the Premises or Tenant's interest in this Lease or the Premises, and such proceeding when possession is not dismissed restored to Tenant within Tenant Landlord -s- [ILLEGIBLE] -s- [ILLEGIBLE] thirty (30) days; or the attachment, execution or other seizure of substantially all of Tenant's assets located at the Premises or Tenant's interest in this Lease or the Premises, if such receivership or trusteeship seizure is not vacated discharged within ninety thirty (9030) days after such institution or appointmentdays.
(iF) Any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other usesGuarantor in connection with negotiating or entering into this Lease or in connection with any Transfer under Section 14.01.
Appears in 1 contract
Samples: Retail Lease (Nara Bancorp Inc)
Events of Default by Tenant. The Each of the following events shall be deemed to be events an “Event of default Default” hereunder:
17.1.1 Default by Tenant under this Lease:
(a) in paying any installment of Rent or in making any deposit required pursuant to Section 4 and such default continues for a period of 5 days following written notice thereof to Tenant; however, an Event of Default shall occur hereunder without any obligation to give any notice if Tenant shall fail fails to pay when due Base Rent before the same becomes delinquent and, during the 12-month interval preceding such failure, Tenant has been given written notice of failure to pay Base Rent on one or more occasions;
17.1.2 If Tenant or any sum guarantor of money due Landlord Tenant’s obligations hereunder shall file a voluntary petition in bankruptcy or shall be adjudicated a bankrupt or insolvent, or shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under present or any future bankruptcy act or any other payment present or reimbursement due future applicable federal, state or other statute or Law or other law, ordinance, order, rule, regulation or requirement of any governmental authority, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or any guarantor of Tenant’s obligations hereunder or of all or any substantial part of its properties or of Tenant’s subleasehold estate with respect to the Property;
17.1.3 If within 90 days after the commencement of any proceeding against Tenant or any guarantor of Tenant’s obligations hereunder seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or Law or other law, ordinance, order, rule, regulation or requirement of any governmental authority, such proceeding shall not have been dismissed, or if, within 90 days after the appointment, without the consent or acquiescence of Tenant or any guarantor of Tenant’s obligations hereunder, of any trustee, receiver or liquidator of Tenant or any guarantor of Tenant’s obligations hereunder or of all or any substantial part of its properties or of Tenant’s subleasehold estate with respect to the Property, such appointment shall not have been vacated or stayed on appeal or otherwise, or if, within 90 days after the expiration of any such stay, such appointment shall not have been vacated;
17.1.4 If a levy under execution or attachment shall be made against Tenant’s subleasehold estate or interest hereunder and such execution or attachment shall not be vacated or removed by court order, bonding or otherwise within a period of 90 days;
17.1.5 If the Property is used for other than the Permitted Use and such default continues for a period of 15 days following written notice thereof to Tenant;
17.1.6 Tenant fails to pay and release of record, or diligently contest and bond around, any mechanic’s or construction lien filed against the Property or any portion thereof for any work performed, materials furnished, or obligation incurred by or at the request of Tenant or any Tenant Party, within the time and in the manner required by Section 10;
17.1.7 If Tenant fails to timely maintain, or cause to be maintained, any insurance required to be maintained under this Lease and such failure continues for 10 days, or the failure of Tenant to furnish Landlord by with certificates of any insurance required under this Lease and such failure continues for ten days after written notice thereof to Tenant;
17.1.8 If Tenant fails to provide any estoppel certificate, documentation regarding the terms subordination of this LeaseLease or financial reports after written request therefor pursuant to Section 26.3, Section 18 and Section 25.1 respectively, and such failure shall continue for 5 days after the second written notice thereof to Tenant;
17.1.9 Tenant (a) abandons or vacates the Property or any substantial portion thereof or (b) fails to continuously operate its business in the Property for the Permitted Use set forth herein;
17.1.10 Default by Tenant in observing or performing one or more of the other terms, conditions, covenants or agreements of this Lease and the continuance of such default for a period of ten (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty (30) 15 days after written notice thereof to Tenant orspecifying such default (unless such default requires work to be performed, acts to be done, or conditions to be removed which cannot by their nature reasonably be performed, done or removed, as the case may be, within such 15-day period, in which case no such Event of Default shall be deemed to exist so long as Tenant shall have commenced curing such default within such 15-day period and shall diligently and continuously prosecute the same to completion, provided, however, that in any event such an Event of Default shall be deemed to exist if such cure of such default has not been completed within (a) 60 days after written notice to Tenant as described above in the case of failures that cana default which could also constitute a failure, breach or default under the Ground Lease or (b) 90 days after written notice to Tenant as described above in the case of a default which could not be cured within twenty (20thirty (30) daysalso constitute a failure, commence to cure such failure within twenty (20thirtybreach or default under the Ground Lease);
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose 17.1.11 The occurrence of any of its right, title or interest in the whole or any part “Default” under Article XI of the Premises without the prior approval of LandlordGround Lease (other than one caused solely by failure to pay “Base Rent” thereunder).
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(h) Involuntary proceedings under any such bankruptcy laws or for the dissolution of Tenant are instituted against Tenant, or a receiver or trustee is appointed for all or substantially all of Tenant's property, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointment.
(i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.
Appears in 1 contract
Samples: Sublease Agreement (iBio, Inc.)
Events of Default by Tenant. (a) The occurrence of any of the following events shall be deemed to be events an event of default by Tenant under this Lease:
(ai) Tenant shall fail to pay when due hereunder any installment of rent or any other sum of money due Landlord hereunder or any other payment or reimbursement due Landlord payable by the terms of this Lease, and such failure shall continue for a period of ten (10) days from the date when such payment was due.Tenant to Landlord; or
(bii) Tenant shall fail to comply with or observe any other term, provision or covenant of this Lease, other than and Tenant has not cured such failure (except for the failure to pay a sum of money due Landlord, and shall not cure such failure rent) within twenty (20thirty (3020) days after written notice thereof to Tenant the occurrence of such failure; or, in the case of failures that cannot be cured within twenty (20thirty (30) days, commence to cure such failure within twenty (20thirty
(ciii) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenantbecome insolvent, or are taken upon or subjected to any attachment by any creditor shall make a transfer in fraud of Tenant or claimant against Tenantcreditors, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes make an assignment for the benefit of creditors.
(h) Involuntary proceedings , or Tenant shall admit in writing its inability to pay its debts as they become due, or Tenant shall file a petition under any such bankruptcy laws section or for chapter of the dissolution Bankruptcy Reform Act of 1978, as amended, or under any similar law or statute of the United States or any State thereof, or Tenant shall be adjudged bankrupt or insolvent in proceedings filed against Tenant thereunder, or a petition or answer proposing the adjudication of Tenant are instituted against Tenantas a bankrupt or its similar law shall be filed in any court and such petition or answer shall not be discharged within sixty (60) days after the filing thereof, or a receiver or trustee is shall be appointed for all or substantially all of the assets of Tenant or of the Building or of any of Tenant's property, and such proceeding is not dismissed property located thereon; or
(iv) The leasehold estate hereunder shall be taken or such receivership attempted to be taken by execution or trusteeship is not vacated within ninety other process of law in any action against Tenant; or
(90v) Tenant shall abandon or vacate any substantial portion of the Building for a period of time in excess of five (5) days after without written permission of Landlord; or
(vi) The liquidation, termination, dissolution, forfeiture of right to do business or death of Tenant or any Guarantor.
(b) If an event of default shall have occurred, Landlord shall have, in addition to such institution other rights or appointment.remedies as are contained within this Lease or at law or in equity, the right at its election, then or any time thereafter while such event of default shall continue, to pursue any one or more of the following remedies:
(i) Terminate this Lease by giving notice thereof to Tenant, in which event Tenant shall fail immediately surrender the Building to use Landlord and if Tenant fails to do so, Landlord may without prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take absolute possession of the Premises Building. Tenant hereby agrees to pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such termination, whether through inability to relet the Building on satisfactory terms or otherwise, including loss of rental for the Permitted Uses remainder of the Lease Term and interest thereon at the Past Due Rate from the date of the default.
(ii) Enter upon and take absolute possession of the Building without terminating this Lease. Landlord may (but shall be under no obligation to) relet the Building or any part thereof for the account of Tenant, in the name of Tenant or Landlord or otherwise, without notice to Tenant, for such term or terms (which may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions (which may include concessions or free rent) and for such uses as Landlord in its absolute discretion may determine and Landlord may collect and receive any rents payable by reason of such reletting. Tenant covenants and agrees to pay Landlord on demand all reasonable expenses necessary to relet the Building which shall use include the Premises cost of renovating, repairing and altering the Building for a new tenant or tenants, advertisements and brokerage fees, and Tenant further covenants and agrees to pay Landlord on demand any deficiency that may arise by reason of such reletting together with interest on all sums due thereon at the Past Due Rate from the date of the default. Landlord shall not be responsible or liable for any failure to relet the Building or any part thereof or for any failure to collect any rent due upon any such reletting. No such re-entry or taking of possession of the Building by Landlord shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of such termination is given to Tenant pursuant to subparagraph 17(b)(i) above.
(iii) Make such payments and/or take such action and do whatever Tenant is obligated to do under the terms of this Lease. Tenant covenants and agrees to reimburse Landlord on demand for any expenses which Landlord may incur in thus affecting compliance with Tenant's obligations under this Lease together with interest thereon at the Past Due Rate from the date paid by Landlord, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action, whether caused by the negligence of Landlord or otherwise.
(iv) Collect, from time to time, by suit or otherwise, each installment of rent or other usessum as it becomes due hereunder, or to enforce, from time to time, by suit or otherwise, any other term or provision hereof on the part of Tenant required to be kept or performed.
(v) Terminate this Lease by giving Tenant notice thereof, in which event Tenant shall pay to Landlord the sum of (1) all rent accrued hereunder through the date of termination, and (2) an amount equal to (A) the total rent that Tenant would have been required to pay for the remainder of the Lease Term discounted to present value at a rate of seven percent (7%) per annum, minus (B) the then present fair rental value of the Building for such period, similarly discounted at a rate of seven percent (7%) per annum, after deducting all anticipated costs of reletting and Landlord's expenses for keeping the Building in good order.
(c) In order to regain possession of the Building pursuant to this Paragraph 17, Landlord or its xxxxx xxx, xx xxx xxxxxse and liability of the Tenant, alter or change any or all locks or other security devices controlling access to the Building without posting or giving notice of any kind to Tenant. Landlord shall have no obligation to provide Tenant a key or grant Tenant access to the Building so long as Tenant is in default under this Lease. Landlord may, without notice, remove and either dispose of or store, at Tenant's expense, any property belonging to Tenant that remains in the Building after Landlord has regained possession thereof.
(d) No repossession or re-entering on the Building or any part thereof by Landlord and no reletting of the Building or any part thereof by Landlord shall terminate this Lease, unless a notice of such intention be given to Tenant.
(e) No right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy, and each and every right and remedy shall be cumulative and in addition to any other right or remedy given hereunder or now or hereafter existing at law or in equity or by statute. In addition to other remedies provided in this Lease, Landlord shall be entitled, to the extent permitted by applicable law, to injunctive relief in case of the violation, or attempted or threatened violation, of any of the covenants, agreements, conditions or provisions of this Lease, or to a decree compelling performance of any of the other covenants, agreements, conditions or provisions of this Lease, or to any other remedy allowed to Landlord at law or in equity.
Appears in 1 contract
Events of Default by Tenant. The following events It shall be deemed to be events an “Event of default by Tenant Default” under this Lease:
, if (ai) Tenant shall fail fails to pay when due any sum of money due Landlord hereunder Fixed Rent or any other payment or reimbursement due Landlord by the terms of this Leaseadditional rent for more than seven (7) days, and after written notice thereof specifying such failure shall continue for a period and that such failure may be an Event of ten Default hereunder; (10) days from the date when such payment was due.
(bii) Tenant shall fail fails to comply with any term, provision or covenant of this Lease, perform its other non-monetary obligations hereunder for more than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty thirty (30) days after written notice thereof from Landlord, together with such additional time, if any, as is reasonably required to Tenant or, in cure the case default if the default is of failures such a nature that it cannot reasonably be cured within twenty (20thirty in thirty (30) days, commence to cure such failure within twenty ; or (20thirty
(ciii) if Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of makes any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(h) Involuntary proceedings , or files a petition under any bankruptcy or insolvency law; or (iv) if such bankruptcy laws or for the dissolution of a petition is filed against Tenant are instituted against Tenant, or a receiver or trustee is appointed for all or substantially all of Tenant's property, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after days; or (v) if a receiver becomes entitled to Tenant’s leasehold hereunder and it is not returned to Tenant within ninety (90) days; or (vi) such institution leasehold is taken on execution or appointment.
(i) other process of law in any action against Tenant; then, and in any such cases, Landlord and the agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination addressed to Tenant at the Premises and repossess the same as of Landlord’s former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate, but Tenant shall fail remain liable as hereinafter provided. After the occurrence of an Event of Default as aforesaid, Tenant hereby waives all statutory rights of redemption, if any to use the Premises for extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant’s effects and those of any person claiming through or under Tenant at the Permitted Uses expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or shall use private sale and apply the Premises for any other usesnet proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.
Appears in 1 contract
Events of Default by Tenant. Section 23.1. The following events shall be deemed to be events of default (each, an "Event of Default') by Tenant under this Lease:
(a) If Tenant shall fail to pay when due any sum installment of money due Landlord hereunder the rent, or any other payment or reimbursement due to Landlord by the terms of this Leaserequired herein, and shall not cure such failure shall continue for a period of to make payment within ten (10) days after written notice from the date when such payment was duelandlord.
(b) If Tenant shall file a voluntary petition in bankruptcy or shall be adjudicated a bankrupt or insolvent or, in any action or proceeding, if Tenant shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other statute or law, or if Tenant shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of all or substantially all of its properties;
(c) If, within sixty (60) days after the commencement of any proceeding against Tenant seeking any reorganization, readjustment, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, such proceeding shall not have been dismissed, or if, within sixty (60) days after the appointment, without consent or acquiescence of Tenant, of any trustee, receiver or liquidator of Tenant or of all or substantially all of its properties, such appointment shall not have been vacated or stayed on appeal or otherwise or if, within sixty (60) days after the expiration of any such stay, such appointment shall not have been vacated; If Tenant shall fail to comply with any term, provision provision, or covenant of this Lease, other than the failure to pay a sum payment of money due Landlordrent and other charges, and shall not cure such failure within twenty (20thirty thirty (30) days after written notice thereof to Tenant orfrom Landlord, in the case of failures that or if cure cannot be cured made within twenty (20thirty thirty (30) days, commence to cure such failure within twenty (20thirty
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) if Tenant shall fail to contest diligently begin curing such failure within the validity of any lien or claimed lien thirty (30) days and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have pursue diligently the same released within ten (10) days after Tenant has notice from any source cure of such lien.
(g) failure; and If Tenant shall file fails to provide a petition in bankruptcy financial statement to Landlord as required by Section 3.6 or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(h) Involuntary proceedings under any such bankruptcy laws or for the dissolution of Tenant are instituted against Tenant, or a receiver or trustee is appointed for all or substantially all of if Tenant's property, and such proceeding Liquidity ratio is not dismissed less than 1.2:1 as reported on a quarterly basis or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointmentif Tenant fails to maintain a ratio of EBIDA to interest charges of 2.1 as reported on a yearly basis.
(i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.
Appears in 1 contract
Samples: Master Lease (Microclock Inc)
Events of Default by Tenant. The Each of the following events acts or omissions of Tenant or occurrences shall be deemed to be events constitute an “Event of default Default”:
15.1.1 Any failure or refusal by Tenant under this Lease:
(a) Tenant shall fail to timely pay when due any sum of money due Landlord hereunder Rent or any other payment payments or reimbursement due Landlord charges required to be paid hereunder, or any portion thereof, within five (5) days following written notice that the same is delinquent.
15.1.2 Any failure by the terms Tenant to perform or observe any other covenant or condition of this Lease, and Lease to be performed or observed by Tenant (other than those described in Section 15.1.1 above or Sections 15.1.3 or 15.1.4 below) if such failure shall continue continues for a period of ten (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty thirty (30) days after following written notice thereof to Tenant orof such failure; provided, however, that in the case event Tenant’s failure to perform or observe any covenant or condition of failures that this Lease to be performed or observed by Tenant cannot reasonably be cured within twenty (20thirty thirty (30) daysdays following written notice to Tenant, commence Tenant shall not be in default if Tenant commences to cure such failure within twenty (20thirty
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source following receipt of such lienwritten notice and thereafter diligently continues to prosecute the curing thereof to completion following such written notice.
15.1.3 The filing or execution or occurrence of any one of the following: (gi) Tenant shall file a petition in bankruptcy or other insolvency proceeding by or for reorganization against Tenant, (ii) a petition or arrangement answer seeking relief under the bankruptcy law any provision of the United StatesBankruptcy Act, or is dissolved, or makes (iii) an assignment for the benefit of creditors.
, (hiv) Involuntary proceedings under a petition or other proceeding by or against Tenant for the appointment of a trustee, receiver or liquidator of Tenant or any such bankruptcy laws of Tenant’s property, or (v) a proceeding by any governmental authority for the dissolution or liquidation of Tenant are instituted against Tenantor any other instance whereby Tenant or any general partner of Tenant shall cease doing business as a going concern; provided, however, in each of the foregoing subsections, such order, judgment or decree (entered as a receiver result of a petition or trustee is appointed for all proceeding) shall remain undischarged or substantially all of Tenant's property, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety unstayed sixty (9060) days after such institution or appointmentit is entered.
15.1.4 Any failure by Tenant to execute and deliver any statement or document described in either Article 11 or Section 12.1 requested to be so executed and delivered by Landlord within the time periods specified therein applicable thereto, where such failure continues for five (i5) Tenant shall fail days after delivery of written notice of such failure by Landlord to use Tenant.
15.1.5 The parties hereto acknowledge and agree that all of the Premises for notice periods provided in this Section 15.1 are in lieu of, and not in addition to, the Permitted Uses or shall use the Premises for notice requirements of any other usesApplicable Laws.
Appears in 1 contract
Samples: Lease Agreement (Equinix Inc)
Events of Default by Tenant. The occurrence of any one of the following events shall be deemed to be events constitute an Event of default Default by Tenant under this LeaseTenant:
(a) Tenant shall fail to pay when due any sum installment of money due Landlord hereunder Base Rent or any other payment sums required to be paid by Tenant hereunder, or reimbursement due Landlord by any part thereof shall at any time be in arrears and unpaid for ten (10) days after written notice that the terms same is past due, or
(b) there is any default or breach on the part of the Tenant in the observance or performance of any of the other covenants, agreements or conditions of this Lease, Lease on the part of Tenant to be kept and such failure performed and said default or breach shall continue for a period of ten (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than the failure to pay a sum of money due Landlord, and shall not cure such failure within twenty (20thirty thirty (30) days after written from notice thereof from Landlord to Tenant orTenant, in the case of failures that unless such default cannot reasonably be cured within twenty (20thirty said thirty (30) days, commence and in such case, Tenant shall have commenced to cure such failure said default within twenty said thirty (20thirty30) days and thereafter continue diligently to pursue to completion the curing of same, or
(c) Tenant shall attempt to assigna writ of execution or attachment is levied on or against the property of Tenant, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.or
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source of such lien.
(g) Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes an assignment for the benefit of creditors.
(h) Involuntary proceedings , or files a voluntary petition under any such state or federal bankruptcy laws or for insolvency law, or an involuntary petition alleging an act of bankruptcy or insolvency is filed against Tenant under any state or federal bankruptcy or insolvency law and is not dismissed within thirty (30) days, or a petition is filed by or against Tenant under the dissolution reorganization provisions of the United States Bankruptcy Code or under the provision of law of like import, or a petition is filed by Tenant are instituted against Tenantunder the arrangement provisions of the United States Bankruptcy Code or similar law, or a receiver or trustee is appointed for all or substantially all of Tenant's property, and such proceeding or of or for the property of Tenant shall be appointed, or Tenant admits it is insolvent or is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointmentable to pay its debts as they mature.
(i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.
Appears in 1 contract
Events of Default by Tenant. The happening of any one or more of the following listed events ("Events of Default") shall be deemed to be events constitute a breach of default this Lease by Tenant under this LeaseTenant:
(a) The failure of Tenant shall fail to pay when due any sum of money due Landlord hereunder rent or any other payment or reimbursement due Landlord by the terms of this Lease, and such failure shall continue for a period of ten (10) days from the date when such payment was due.
(b) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than the failure to pay a sum sums of money due Landlord, and shall not cure such failure within twenty (20thirty (30) days after written notice thereof to Tenant or, in the case of failures that cannot be cured within twenty (20thirty (30) days, commence to cure such failure within twenty (20thirty
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (15) days after its levy.
(f) Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has receipt of written notice from any source Landlord that such rent or other sum of money is due; provided, however that Landlord shall only be required to notify Tenant in writing of such lienfailure to pay two (2) times during any twelve month period, and after the second such written notice within such twelve (12) month period, it shall be an Event of Default if Tenant shall fail to pay any rent or any other sums of money within ten (10) days of the date such amounts are due.
(gb) Except for the payment of rent and other sums of money hereunder, the failure of Tenant, within thirty (30) days after receipt of written notice from Landlord, to comply with any provision of this Lease or any other agreement between Landlord and Tenant, all of which terms, provisions and covenants shall be deemed material; provided, however, that if the nature of Tenant's failure is such that it cannot reasonably be cured within such thirty (30) day period, the time for curing such failure shall be extended for such period of time as may be necessary to complete such cure provided Tenant shall file proceed promptly to cure the same and shall prosecute such cure continuously, in good faith and with due diligence.
(c) If the Tenant shall (i) apply for or consent to the appointment of a petition in bankruptcy receiver, trustee or insolvency or for reorganization or arrangement under the bankruptcy law liquidator of the United StatesTenant or of all or a substantial part of its assets, or is dissolved(ii) admit in writing its inability to pay its debts as they come due, or makes an (iii) make a general assignment for the benefit of creditors.
, (hiv) Involuntary proceedings under file a petition or an answer seeking reorganization or arrangement with creditors or to take advantage of any such insolvency law other than the Federal Bankruptcy Code, (v) file an answer admitting the material allegations of a petition filed against the Tenant in any reorganization or insolvency proceedings, other than a proceeding commenced pursuant to the Federal Bankruptcy Code, or if any order, judgment or decree shall be entered by any court of competent jurisdiction, except for a bankruptcy laws court or for a federal court sitting as a bankruptcy court, adjudicating the dissolution Tenant insolvent, or approving a petition seeking reorganization of Tenant are instituted against the Tenant, or appointing a receiver receiver, trustee or trustee is appointed for liquidator of the Tenant or of all or substantially all a substantial part of Tenant's property, and such proceeding is not dismissed or such receivership or trusteeship is not vacated within ninety (90) days after such institution or appointmentits assets.
(i) Tenant shall fail to use the Premises for the Permitted Uses or shall use the Premises for any other uses.
Appears in 1 contract
Events of Default by Tenant. The following events shall be deemed to be events of default by Tenant (each an "Event of Default") under this Lease:
(a) a. Tenant shall fail to pay when due any sum of money due Landlord hereunder Base Rental, Additional Base Rental or any other payment or reimbursement due Landlord by the terms of Rent under this Lease, and such which failure shall continue continues for five (5) Business Days after written notice from Landlord (hereinafter sometimes referred to as a period of ten (10) days from the date when such payment was due"Monetary Default"). The Notice hereunder must be delivered to Tenant as described above.
b. Any failure by Tenant (bother than a Monetary Default) Tenant shall fail to comply with any term, provision or covenant of this Lease, other than including, without limitation, the Rules and Regulations, which failure to pay a sum of money due Landlord, and shall is not cure such failure within twenty (20thirty (30) days after written notice thereof to Tenant or, in the case of failures that cannot be cured within twenty (20thirty (30) days, commence to cure such failure within twenty (20thirty
(c) Tenant shall attempt to assign, transfer, convey, sublet, encumber or dispose of any of its right, title or interest in the whole or any part of the Premises without the prior approval of Landlord.
(d) Tenant shall abandon any substantial portion of the Premises or cease to use a substantial portion of the Premises for the Permitted Uses.
(e) This Lease or the Premises or any part of the Premises are taken upon execution or by other process of law directed against Tenant, or are taken upon or subjected to any attachment by any creditor of Tenant or claimant against Tenant, and such attachment is not discharged within fifteen (1520) days after delivery to Tenant of written notice of the occurrence of such failure; provided, if Tenant has promptly commenced and diligently pursued remedial action within such 20-day period but has been unable to cure its levydefault prior to the expiration thereof, such 20-day period shall be extended for a period reasonably required for the completion of Tenant's remedial action.
(f) c. Tenant shall fail to contest diligently the validity of any lien or claimed lien and give sufficient security to Landlord to insure payment thereof become insolvent, or shall fail to satisfy any judgment rendered thereon and have the same released within ten (10) days after Tenant has notice from any source make a transfer in fraud of such lien.
(g) Tenant creditors, or shall file a petition in commit an act of bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy law of the United States, or is dissolved, or makes shall make an assignment for the benefit of creditors, or Tenant shall admit in writing its inability to pay its debts as they become due.
(h) Involuntary proceedings d. Tenant shall file a petition under any such bankruptcy laws section or for chapter of the dissolution United States Bankruptcy Code, as amended, pertaining to bankruptcy, or under any similar law or statute of the United States or any State thereof, or Tenant are instituted shall be adjudged bankrupt or insolvent in proceedings filed against TenantTenant thereunder, or a petition or answer proposing the adjudication of Tenant or any provision of covenant of this Lease, including, without limitation, Tenant's obligation to pay Rent when due, on three (3) occasions as a debtor, or its reorganization under any present or future federal or state bankruptcy or similar law shall be filed in any court and such petition or answer shall not be discharged or denied within sixty (60) days after the filing thereof.
e. A receiver or trustee is shall be appointed for all or substantially all of the assets of Tenant or of the Premises or of any of Tenant's property, Property located thereon in any proceeding brought by Tenant or any such receiver or trustee shall be appointed in any proceeding brought against Tenant and such proceeding is shall not dismissed or such receivership or trusteeship is not vacated be discharged within ninety sixty (9060) days after such institution appointment or Tenant shall consent to or acquiesce in such appointment.
(i) f. The leasehold estate hereunder shall be taken on execution or other process of law or equity in any action against Tenant.
g. Tenant shall abandon or vacate any substantial portion of the first floor offices or one floor of either the sixteenth or seventeenth floors of the Premises without the prior written consent of Landlord.
h. Tenant shall fail to use take possession of and occupy the Lobby/Branch Space of the Premises for within thirty (60) days following the Permitted Uses Commencement Date.
i. The liquidation, termination, dissolution, or shall use the Premises for any other usesforfeiture of right to do business of Tenant.
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